Your Guide To Federal Tax Reform

Legislators are now poised to overhaul the U.S. tax code for the first time in three decades. Keep track of the latest developments in the path towards reform with this one-stop guide to our research and analysis. Click one of the tabs below to explore.

Updated Details and Analysis of the 2017 House Tax Cuts and Jobs Act

Preliminary Details and Analysis of the Senate’s 2017 Tax Cuts and Jobs Act

The House Takes a Big Step Forward on Tax Reform

Time to Shoulder Aside “Crowding Out” As an Excuse Not to Do Tax Reform

November 7, 2017

This paper evaluates the arguments for and against “crowding out” and compares these arguments to empirical studies. It discusses the impact of tax changes on the allocation of national income between consumption and saving, and the allocation of saving between private investment and government deficits. It finds that the crowding out argument is largely based on a mistaken assumption about the flexibility and availability of saving and credit for the financing of government deficits and private investment.

Time to Shoulder Aside “Crowding Out” As an Excuse Not to Do Tax Reform

November 7, 2017

This paper evaluates the arguments for and against “crowding out” and compares these arguments to empirical studies. It discusses the impact of tax changes on the allocation of national income between consumption and saving, and the allocation of saving between private investment and government deficits. It finds that the crowding out argument is largely based on a mistaken assumption about the flexibility and availability of saving and credit for the financing of government deficits and private investment.